EDP Renovaveis : 9M 2024 results in line, 2024 guidance adjusted and uncertainty in the US
>Neutral rating and target price adjusted to € 15.6 vs € 16.5 - The 9M 2024 performance was broadly in line with our expectations. The group has confirmed its guidance for 2024. At this stage, the group has adjusted its 2024 production estimates down by 10% (from 35 TWh to 36 TWh) but has raised its capture price by 9% to € 60/MWh. The group has reiterated its EBITDA target of around € 1.9bn in 2024 (including capital gains on disposals) and net income of around € 400...EDP Renovaveis is a renewable energy company based in Spain. Co. is engaged in activities related to the electricity sector, namely the planning, construction, operation and maintenance of electricity generating power stations, especially hydroelectric, mini-hydroelectric, wind, solar, thermal solar, photovoltaic, biomass and waste plants, among others. Co. designs, develops, manages and operates power plants. Co. generates electricity using renewable energy sources mostly wind energy. Co. owns EDP Renewables Europe that operates in several European countries and Horizon Wind Energy, which operates in the United States. Co. is a part of the Energias de Portugal group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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